Block Energy plc announced it had started drilling JKT-01Z well yesterday, targeting circa eight million barrels of oil-in-place, at its project in Georgia.
PROGRAMME
Well JKT-01Z is the second well in the company’s current two-well drill programme and lies near the vertical well KRT-39, which has produced c.450 Mbbls of oil over the past 20 years.
Both wells are in Block XIB, which the company acquired from Schlumberger in November 2020.
SIDETRACK WELL
Block Energy said it had optimised the drilling of JKT-01Z by recalibrating the company’s 3D-seismic data with data gathered from recent wells, using horizontal drilling technology and geomechanics, and optimising the well trajectory in real time while drilling.
“The trajectory and horizontal nature of the well design will maximise the chance of intersecting fracture attributes identified in the same reservoir interval in KRT-39, the producing interval near the fractured volcanic tuff at the top of the Middle Eocene.
“Well JKT-01Z is a sidetrack from a vertical well originally drilled in 2011 by a previous operator.
“It is therefore not expected to suffer the well integrity issues experienced by Block previously when sidetracking from Soviet era wells.
“This approach maximises the potential return of value to shareholders, by greatly reducing the drilling cost and time, while minimising execution risk.”
Block Energy chief executive Paul Haywood added that production from JKT-01Z would be quickly monetised and make a material addition to the company’s near and longer-term future.